|April 14, 2010|
Minco Silver Closes $3,372,975 in a Non-Brokered Private Placement
|Minco Silver Corporation (the "Company" or "Minco Silver") (TSX: MSV) is pleased to announce that it has closed a non-brokered private placement. The financing placed a total 1,972,500 Units at a price of $1.71 per Unit for gross proceeds of $3,372,975 (the "Offering"). |
Each Unit consists of one (1) common share in the capital of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant a "Warrant"). Each Warrant will entitle the holder to purchase one common share in the capital of Minco Silver at an exercise price of $2.15 for a period of twelve (12) months from the closing of the Offering.
The Company will pay a 5% finders' fee in connection with a portion of the Offering in the amount of $14,748.75 subject to the Toronto Stock Exchange approval.
The proceeds of the Offering will be used for general corporate purposes.
About Minco Silver
Minco Silver Corporation (TSX: MSV) is a TSX listed company focusing on the acquisition and development of silver dominant projects. The Company owns 90% interest in the world class Fuwan Silver Deposit, situated along the northeast margin of the highly prospective Fuwan Silver Belt. For more information on Minco Silver, please visit the website at www.mincosilver.ca or contact Ute Koessler at 1-888-288-8288 or (604) 688-8002 firstname.lastname@example.org.
ON BEHALF OF THE BOARD
"Dr. Ken Z. Cai"
Chairman & CEO
The Toronto Stock Exchange does not accept responsibility for the accuracy of this news release. Certain terms or statements made that are not historical facts, such as anticipated advancement of mineral properties or programs, productions, sales of assets, exploration plans or results, costs, prices, performance are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected or implied. These risks and uncertainties include, but are not limited to; metals price volatility, volatility of metals production, project development risks and ability to raise financing. The Company undertakes no obligation and has no intention of updating forward-looking statements.
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